4-Unit
For Sale
$325,000
3 Washington Street Place, Augusta, ME 04330
The Augusta property dates to 1900 and contains 2,759 square feet.
Property Size2,759 SF
Price / SF$117.80
Days on Market105
Property Features for 3 Washington Street Place
General Information
Standard status
Active
Size
2,759 SF
Property subtype
MULTI_FAMILY
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,555
Building Details
Building Size
2,759 SF
Year Built
1900
Buildings
1
Listing Agency:
NextHome Experience
Listed By:
Timothy Bush
(207) 951-0747
Source:
Hoangrealty
Added: Jul 16
Changed: Oct 27
Last Checked: Oct 26 at 2:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NextHome Experience
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Investment Insights
Based on property information with market context.
This four-unit residential property in Augusta, Maine, contains 2,759 square feet. Built in 1900, the building is located at 3 Washington Street Place.
Key Highlights
- Four residential units
- 2,759 square feet
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,877
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,540
$537.5K
Cap Rate 7%
$383,957
$384.0K
Cap Rate 9%
$298,633
$298.6K
Market Conditions
NOI Build-Up for 2,759 SF
Gross rent
$49.7K $18.00/SF
− Vacancy
−$795 −$0.29/SF
EGI
$48.9K $17.71/SF
− OpEx
−$22.0K −$7.97/SF
NOI
$26.9K $9.74/SF
Area
Kennebec County, ME
Vacancy
1.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,540
Cap Rate 7%
$383,957
Cap Rate 9%
$298,633
Alternative Uses
Best Use
Multifamily LT 5
$440.2K
$385.1K – $513.5K
NOI $30,811 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$384.0K
$336.0K – $448.0K
NOI $26,877 @ 7.0% cap · market cap 8.27%
Theoretical Best
Warehouse
$4.12M
$3.60M – $4.80M
NOI $288,131 @ 7.0% cap · market cap 88.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
815
Businesses Nearby
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Business Placement
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The Augusta property dates to 1900 and contains 2,759 square feet.
Where is this quadplex located?
The property is located at 3 Washington Street Place Augusta, ME.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Four residential units; 2,759 square feet; Built in 1900
